Genelux (NASDAQ:GNLX) Coverage Initiated at Lake Street Capital

Key Points

• Lake Street Capital has initiated coverage on Genelux (NASDAQ:GNLX) with a "buy" rating and a price target of $16.00, suggesting a potential upside of 145.78% from its current price.
• The stock experienced a significant increase of 13.8% recently, currently trading at $6.51, while analysts maintain a consensus rating of "Moderate Buy" with an average target price of $19.25.
• Institutional investors have recently increased their stakes in Genelux, with notable increases from firms like Woodward Diversified Capital and MAI Capital Management, indicating growing investor confidence in the company.

Analysts at Lake Street Capital began coverage on shares of Genelux (NASDAQ:GNLX - Get Free Report) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $16.00 price target on the stock. Lake Street Capital's price objective indicates a potential upside of 145.78% from the stock's current price.

Several other brokerages have also recently weighed in on GNLX. Weiss Ratings reissued a "sell (e+)" rating on shares of Genelux in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Genelux from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, HC Wainwright restated a "buy" rating on shares of Genelux in a report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.25.

Genelux Stock Up 13.8%

Shares of Genelux stock opened at $6.51 on Tuesday. Genelux has a twelve month low of $1.99 and a twelve month high of $6.52. The stock has a market cap of $245.90 million, a price-to-earnings ratio of -7.57 and a beta of -0.22. The company's fifty day moving average is $4.11 and its 200 day moving average is $3.30.

Genelux (NASDAQ:GNLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. As a group, equities analysts anticipate that Genelux will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genelux

Several institutional investors have recently made changes to their positions in GNLX. Woodward Diversified Capital LLC raised its holdings in shares of Genelux by 21.7% during the second quarter. Woodward Diversified Capital LLC now owns 1,778,286 shares of the company's stock valued at $5,104,000 after purchasing an additional 317,173 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Genelux in the 1st quarter worth about $770,000. Flputnam Investment Management Co. raised its holdings in shares of Genelux by 708.1% in the 3rd quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company's stock worth $1,261,000 after acquiring an additional 263,131 shares during the last quarter. Heights Capital Management Inc. acquired a new stake in shares of Genelux in the 1st quarter worth about $644,000. Finally, MAI Capital Management raised its holdings in shares of Genelux by 66,161.3% in the 2nd quarter. MAI Capital Management now owns 236,553 shares of the company's stock worth $679,000 after acquiring an additional 236,196 shares during the last quarter. Institutional investors and hedge funds own 37.33% of the company's stock.

About Genelux

Genelux Corporation, a clinical-stage biopharmaceutical company, focuses on developing next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Its lead product candidate is Olvi-Vec, a proprietary modified strain of the vaccinia virus for the treatment of ovarian cancer and non-small cell lung cancer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.